PayPal demonstrated how crypto stablecoins can speed up company payments by using its own stablecoin, PYUSD, to send over $1 billion between its US headquarters and overseas offices.
Speaking on a panel in Singapore two weeks ago, Head of Global Market Development for Crypto and Digital Assets at PayPal, Steve Everett, explained that the company uses PYUSD to pay dividends between its business units. This approach slashed the time it takes to process $1 billion from 6 to 10 business days to just about 2 hours.
The main activity behind this was a trial program run by the treasury team back in 2025. It covered three continents, and one dividend repatriation from Singapore to the US wrapped up in hours, versus the several days traditional banking can take.
PYUSD is a stablecoin pegged to the US dollar, issued by Paxos Trust Company and backed by dollar deposits, US Treasuries, and similar cash equivalents. It’s designed to be redeemed one-for-one with the dollar.
The pilot used dedicated on-chain wallets to send PYUSD between subsidiaries. Because the stablecoin runs on blockchains, transfers can take place outside normal banking hours, potentially cutting delays caused by international payment systems and intermediary banks.
PayPal’s treasury team also used the pilot to get a handle on the accounting, legal, tax, and reconciliation side of settling transactions on-chain. The company has made clear that stablecoins could add to existing payment systems, rather than replace traditional banking entirely.
(adsbygoogle = window.adsbygoogle || []).push({});Stablecoins could drive growth in corporate treasury payments outside of crypto trading. Companies that operate in multiple countries routinely move funds between subsidiaries to manage liquidity and finance local operations.
Using stablecoins could speed up those transfers and create clearer transaction records. However, companies still have to deal with regulatory requirements, custody arrangements, conversion costs, and integration with existing accounting systems.
Either way, PayPal’s treasury experiment illustrated a practical use case for stablecoins.
In the meantime, PayPal continues to build out its digital dollar network. In September, the company partnered with M0 and MoonPay to launch PYUSDx, a developer platform that lets companies create their own custom stablecoins backed directly by PYUSD.
Related: PayPal Restructures, Makes Crypto One of Three Core Business Segments
